30% of Units Already Sold at 51 Jay Street

51 Jay Hero

51 Jay Street is an existing warehouse building in Dumbo being transformed into 74 condominiums, including studios, one-, two-, three- and four-bedroom apartments, six penthouses and a townhouse. Sales were launched on January 5, 2015, and within 30 days, the building has sold over 30% of its units, according to the development firms.

The listings on Streeteasy, list prices from $875,000 for a 664sf studio to a $5.15MM four bedroom, 4 bath 2,663fs penthouse unit. The average asking price for the 29 units currently released is $2,271,000 (avg square feet of 1,512). Average one bedrooms are asking $1,306,000 (927 square feet), average two bedrooms are asking $2,137,000 (1,472 square feet), and average three bedrooms are asking $3,047,333 (1,963 square feet).

The pricing has already increased four times in its initial release, and based on the development firm feedback from Slate Property Group and Adam America Real Estate, the ODA Architecture designed building will sell out very quickly.

Dvir Cohen Hoshen, co-founder and principal of Adam America Real Estate, stated, “The pace of sales is unlike anything we have experienced before. The combined value of the building design, Dumbo location and unit size is not matched by any other property in New York City.”

“We have received exceptional feedback from buyers and the real estate community, with the unanimous reaction that 51 Jay is one of the most uniquely designed products on the market,” stated Martin Nussbaum, Principal of Slate Property Group.

51 Jay Street is scheduled for completion in Spring 2016.

Duplex Courtyard Facing



{51 Jay Street Conversion to have up to 74 Apartments, 22May2014}
{ 51 Jay Street Warehouse in Dumbo on the Market, 07Dec2011}
{LPC Approves Plans for 201 Water St, 01Feb2010}